Raya Holding eyes increasing capital in food industries factory by EGP 50 mln
Egypt’s Raya Holding For Financial Investments seeks to increase the capital of its factory in New Sadat City by 50 million Egyptian pounds during 2019, according to its CEO Medhat Khalil.
He told Amwal Al Ghad that factory is for food industries and frozen vegetables with total investments of 110 million Egyptian pounds.
Khalil further noted that his company is providing 50 percent of these investments, while the remaining 50 percent is offered by a bank fund. The board of directors further approved additional banking funds of 65 million pounds to be bumped into the factory.
However, Raya Holding has bought 20 percent of the Polish food manufacturer Makarony Polsike with total value of $2.9 million.
In addition, The company aims at increasing the capital of International Union for Integrated Food Industries by 105 million Egyptian pound.
Raya Holding is an auspicious investment conglomerate managing a diversified investment portfolio.
As the parent company of eleven up-and coming lines of business, Raya Holding operates in the fields of information technology, data center outsourcing, contact center, smart buildings, consumer electronics, food and beverage, land transport, PET re-manufacturing, E-payments and Non-banking financial services.